Home Warranties....love them or hate them? Necessity or not?
My opinion is that they are great to have (definetly for the first year), especially if the home you are purchasing has been vacant for a while, has older appliances or is a "flipped" home and has new appliances (you just never know). The home warranites cost approximately $400-$500 a year and have a "trade service fee" of roughly $60-80 per visit. If something goes wrong, you call the home warranty company directly, they send out a repair contractor, you pay the contractor the trade service fee and thats it! For instance, to replace a water heater here locally costs approximately $600. If you purchased a home warranty for $400 and paid the $60 trade service fee, you would have saved yourself $140! And if you can get the seller to pay for it on your behalf....well you do the math....you would only pay the trade service fee of approximately $60 - WOW! $60 for a brand new water heater??? Thats amazing. I think thats a pretty good savings! There are several companies out there, three of the biggest known here in Hampton Roads are, AHS, 2-10HW, and First American Homebuyers Warranty. If you are curious about coverages, look them up online or give me a call! Im at the HELM Of it! www.atthehelmofit.com
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